Archived: TMO True Momentum Oscillator

[stocksniper]

Does someone know how to add arrows to the script when TMO study turns green.

 

[Mark1126]

Here is a colored vertical line for buy and sell signals on TMO main and signal cross.

def BUYsignal = Main crosses above Signal;
def SELLsignal = Main crosses below Signal;
addverticalline(BUYsignal,"Buy",color.green,curve.firm);
addverticalline(SELLsignal,"Sell",color.red,curve.firm);

 

[stocksniper]

This is awesome, @Mark1126 can you make them arrows instead of lines. Thanks bunch!

 

[tenacity11]

@Mark1126 Is there a way to scan for the buy and sell signals? TIA

 

[BenTen]

@tenacity11 You can input the same formula Mark provided in the default ToS scanner and it should work. Just select Main crosses above or below Signal and within how many bars.

 

[DeusMecanicus]

@Mark1126 Just a slight modification to cut down on the number of signals and filter out some low R/R trades.

def BUYsignal =Main < OS and Main crosses above Signal;
def SELLsignal = Main > OB and Main crosses below Signal;
addverticalline(BUYsignal,"Buy",color.green,curve.firm);
addverticalline(SELLsignal,"Sell",color.red,curve.firm);

 

[zeek]

Any chance you can help me add audio alerts for the modified trigger signals above? @BenTen

 

[BenTen]

@zeek Try this:

# Alerts
Alert(BuySignal, " ", Alert.Bar, Sound.Chimes);
Alert(SellSignal, " ", Alert.Bar, Sound.Bell);

 

[tenacity11]

yeah...that's the one that I have...but its not the one that scans for the color change...The one you have is when it crosses above or below the Over Bought Over Sold condition...

You want the one that Main crosses above the Signal?

 

[HighBredCloud]

You want the one that Main crosses above the Signal?

Yes...I think that is the one...Is that the one that reflects the color change from GREEN to RED and vice versa?

 

[tenacity11]

Yes...I think that is the one...Is that the one that reflects the color change from GREEN to RED and vice versa?

TrueMomentumOscillator_14()."Main" crosses above TrueMomentumOscillator_14()."Signal"

See if that is what you want

 

[HighBredCloud]

TrueMomentumOscillator_14()."Main" crosses above TrueMomentumOscillator_14()."Signal"

See if that is what you want

You don't have the Thinkscript Editor version by chance do you? I don't use the condition wizard.

I have the TMO scanner that you have that tomsk made...also I tried to implement other TMO scanner into it...just not sure if I commented out the right things and if I put them int the appropriate scan parts of Bullish or Bearish...

I guess for anyone that is interested assuming what I did was right...Someone that knows what they are doing please confirm.

# TMO ((T)rue (M)omentum (O)scilator) Scan
# Mobius, with modifications by tomsk, 1.1.2020
# V01.05.2018
#hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

input length = 14;
input calcLength = 5;
input smoothLength = 3;
#input level = -10;   ##Bullish Scan
#input level = 10;   ##Bearish Scan

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);

#hint: Comment out using # below to scan for Bullish or Bearish.  Please note that ## applies to conditional scan with parameters -10 (over sold condition) Bullish Scan) and 10 (over bought condition) Bearish Scan) Default is set to a Bullish TMO Scan without any conditions.

##***Bullish Scan***

##plot scan = main < level and signal < level and main > signal;
#plot scan = main < main[1] and signal < signal[1];

##***Bearish Scan***

##plot scan = main > level and signal > level and main < signal;
plot scan = main > main[1] and signal > signal[1];

 

[tenacity11]

You don't have the Thinkscript Editor version by chance do you? I don't use the condition wizard.

I have the TMO scanner that you have that tomsk made...also I tried to implement other TMO scanner into it...just not sure if I commented out the right things and if I put them int the appropriate scan parts of Bullish or Bearish...

I guess for anyone that is interested assuming what I did was right...Someone that knows what they are doing please confirm.

# TMO ((T)rue (M)omentum (O)scilator) Scan
# Mobius, with modifications by tomsk, 1.1.2020
# V01.05.2018
#hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

input length = 14;
input calcLength = 5;
input smoothLength = 3;
#input level = -10;   ##Bullish Scan
#input level = 10;   ##Bearish Scan

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);

#hint: Comment out using # below to scan for Bullish or Bearish.  Please note that ## applies to conditional scan with parameters -10 (over sold condition) Bullish Scan) and 10 (over bought condition) Bearish Scan) Default is set to a Bullish TMO Scan without any conditions.

##***Bullish Scan***

##plot scan = main < level and signal < level and main > signal;
#plot scan = main < main[1] and signal < signal[1];

##***Bearish Scan***

##plot scan = main > level and signal > level and main < signal;
plot scan = main > main[1] and signal > signal[1];

TrueMomentumOscillator_14()."Main" crosses above TrueMomentumOscillator_14()."Signal"
this is directly from the ThinkScript editor

 

[zeek]

Curious to know if there are other momentum oscillators that uses delta instead of price to calculate momentum? I really like this one but it's always nice to compare with others.

Anyone know?

 

[markos]

@zeek Mobius created this about 2 years ago in the lounge. Gent named Nube created a few spinoffs as I recall. They would be in the Universe of thinkscript in the reference section.

 

[Trading51]

You don't have the Thinkscript Editor version by chance do you? I don't use the condition wizard.

I have the TMO scanner that you have that tomsk made...also I tried to implement other TMO scanner into it...just not sure if I commented out the right things and if I put them int the appropriate scan parts of Bullish or Bearish...

I guess for anyone that is interested assuming what I did was right...Someone that knows what they are doing please confirm.

# TMO ((T)rue (M)omentum (O)scilator) Scan
# Mobius, with modifications by tomsk, 1.1.2020
# V01.05.2018
#hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

input length = 14;
input calcLength = 5;
input smoothLength = 3;
#input level = -10;   ##Bullish Scan
#input level = 10;   ##Bearish Scan

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);

#hint: Comment out using # below to scan for Bullish or Bearish.  Please note that ## applies to conditional scan with parameters -10 (over sold condition) Bullish Scan) and 10 (over bought condition) Bearish Scan) Default is set to a Bullish TMO Scan without any conditions.

##***Bullish Scan***

##plot scan = main < level and signal < level and main > signal;
#plot scan = main < main[1] and signal < signal[1];

##***Bearish Scan***

##plot scan = main > level and signal > level and main < signal;
plot scan = main > main[1] and signal > signal[1];

@HighBredCloud Good day, any way that you could assist me with getting setup with scan, with some brief instructions on setting up, like where and how thanks. .

 

[HighBredCloud]

@HighBredCloud Good day, any way that you could assist me with getting setup with scan, with some brief instructions on setting up, like where and how thanks. .

Paste this code into into the think script editor...This can be found in the scan section of TOS. You will need to "Add Filter" from the upper right...Select STUDY...Select Custom...then make sure you're pasting into Think Script Editor and NOT Condition Wizard. I hope this helps.

 

[HighBredCloud]

Hey man thanks for taking the time to reply much appreciated ! Be safe!

Your welcome...I would just verify the code if I got the Bullish and Bearish correct from post #127...I think I had them reversed in the post in this thread because opposite results would come out at times. Nobody verified tho so its hard for me to say...Perhaps @BenTen could take a look and verify so that you don't your scan search doesn't pull out the wrong results.

 

[Trading51]

Your welcome...I would just verify the code if I got the Bullish and Bearish correct from post #127...I think I had them reversed in the post in this thread because opposite results would come out at times. Nobody verified tho so its hard for me to say...Perhaps @BenTen could take a look and verify so that you don't your scan search doesn't pull out the wrong results.

Do you know the steps that I can take to set this up in a custom column, that's what I'm trying to add, I don't need the scanner I'm looking for the visual column. Thanks.

https://imgur.com/a/Jx4B7Km

 

[Trading51]

Here is my version. I have some similar ones with different indicators that act like histogram colors too.

# TMO ((T)rue (M)omentum (O)scilator)
# Mobius
# V01.05.2018
#hint: TMO calculates momentum using the delta of price. Giving a much better picture of trend, tend reversals and divergence than momentum oscillators using price.

declare Lower;

input length = 21;
input calcLength = 5;
input smoothLength = 3;

def o = open;
def c = close;
def data = fold i = 0 to length
           with s
           do s + (if c > getValue(o, i)
                   then 1
                   else if c < getValue(o, i)
                        then - 1
                        else 0);
def EMA5 = ExpAverage(data, calcLength);
def Main = ExpAverage(EMA5, smoothLength);
def Signal = ExpAverage(Main, smoothLength);
assignBackgroundColor(if Main > Signal
                           then color.dark_green
                           else color.Dark_red);


def ob = if isNaN(c) then double.nan else round(length * .7);

def os = if isNaN(c) then double.nan else -round(length * .7);

plot IntheGreen = (Signal < os);
AddLabel(IntheGreen, "OS", Color.White);
plot IntheRed = (Signal > ob);
AddLabel(IntheRed, "OB", Color.White);
plot IntheMIddle = (Signal < ob and Signal > OS);
AddLabel(IntheMIddle, "--", Color.black);

@subharmonic Would it be ok to share your custom Column for the TMO, I'm trying to set one up thanks.